Homes for Sale in Toronto

Those who waited out last year’s overheated Toronto housing market conditions in hopes that 2018 would bring a reprieve might have found their moment. A month into the new year, the city’s home prices have fallen by 4.1 percent and sales dropped by 22 percent compared with a year ago.

Meanwhile, the number of new listings has risen by 17.4 percent from January 2017. The market slowdown has been welcome news for prospective buyers, who now face a stress test on uninsured mortgages and fixed mortgage rates that were pushed up by banks after the country’s interest rate was increased to 1.25 percent in mid-January. The city’s real estate board is expecting these measures will have less impact on the market later in the year, which brokers contend makes now a good time to buy.

Click on the slide show to see this week’s featured properties in Toronto:

• In Niagara, a two-bedroom, two-bath condo that was recently freshened up with laminate flooring, granite counter tops and a blue-grey kitchen backsplash. It has space for an en suite washer and dryer, and comes with a south-facing balcony that brings in plenty of natural light, an underground parking space and a storage locker.